Economy of Latvia. Statistics, Data and Indicators
Latvia
| 69A- | Credit rank #39 |
| N/A | Quality of life # |
| 42 | Corruption rank#41 |
| 19 | Ease of doing business#19 |
Latvia Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 33.51 USD Billion | 2020 |
| GDP Annual Growth Rate | -1.3 % | 1Q/21 |
| GDP Growth Rate | -1.7 % | 1Q/21 |
| GDP per capita | 23061 USD | 2020 |
| Inflation Rate YoY | 2.7 % | Jun/21 |
| Interest Rate | 0 % | Jun/21 |
| Unemployment Rate | 8.1 % | 1Q/21 |
| Wages | 932 EUR/Month | 1101.603 USD/Month | Mar/21 |
| Balance of Trade | -357 EUR Million | -0.422 B USD | May/21 |
| Current Account | -55 EUR Million | -0.065 B USD | May/21 |
| Foreign Exchange Reserves | 4441 USD Million | 4.441 B USD | Jun/21 |
| Government Debt | 13430 EUR Million | 15.874 B USD | 1Q/21 |
GDP
33.51
USD Billion
#99 from 174 countries
GDP per capita
23061
USD
#47 from 169 countries
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 33.51 USD Billion | 2020 |
| GDP Annual Growth Rate | -1.3 % | 1Q/21 |
| GDP Growth Rate | -1.7 % | 1Q/21 |
| GDP per capita | 23061 USD | 2020 |
| Gross National Product | 6609 EUR Million | 7.812 USD Billion | 1Q/21 |
| GDP Constant Prices | 5927191 EUR Thousand | 7.006 B USD | 1Q/21 |
| GDP per capita PPP | 29932 USD | 2020 |
| GDP From Agriculture | 159856 EUR Thousand | 0.189 B USD | 1Q/21 |
| GDP From Construction | 235846 EUR Thousand | 0.279 B USD | 1Q/21 |
| GDP From Manufacturing | 699195 EUR Thousand | 0.826 B USD | 1Q/21 |
| GDP From Mining | 188700 EUR Thousand | 0.223 B USD | 1Q/21 |
| GDP From Public Administration | 359620 EUR Thousand | 0.425 B USD | 1Q/21 |
| GDP From Services | 764712 EUR Thousand | 0.904 B USD | 1Q/21 |
| GDP From Transport | 445201 EUR Thousand | 0.526 B USD | 1Q/21 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 43.5 % | 2020 |
| Government Budget Value | -252544208 EUR | -0.299 USD Billion | Jun/21 |
| Government Spending | 1136585 EUR Thousand | 1.343 USD Billion | 1Q/21 |
| Government Debt | 13430 EUR Million | 15.874 USD Billion | 1Q/21 |
| Government Revenues | 1128291 EUR Thousand | 1.334 USD Billion | Jun/21 |
| Fiscal Expenditure | 1451597 EUR Thousand | 1.716 B USD | Jun/21 |
| Government Budget to GDP | -4.5 % | 2020 |
| Government Spending to GDP | 43.6 % | 2020 |
| Military Expenditure | 739 USD Million | 0.739 B USD | 2020 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 112 index points | Jun/21 |
| Export Prices | 114 index points | May/21 |
| Food Inflation | 2 % | Jun/21 |
| Gasoline Prices | 1.57 USD/Liter | Jun/21 |
| GDP Deflator | 1.15 % | 1Q/21 |
| Import Prices | 100 index points | May/21 |
| Inflation Rate YoY | 2.7 % | Jun/21 |
| Producer Prices | 113 index points | May/21 |
| Inflation Rate Mom | 0.3 % | Jun/21 |
| Core Consumer Prices | 110 Index Points | May/21 |
| Core Inflation Rate | 2 % | Jun/21 |
| CPI Housing Utilities | 106 Index Points | Jun/21 |
| CPI Transportation | 110 Index Points | Jun/21 |
| Harmonised Consumer Prices | 112 Index Points | Jun/21 |
| Producer Prices Change | 8.3 % | May/21 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 3 % | 2020 |
| Balance of Trade | -357 EUR Million | -0.422 USD Billion | May/21 |
| Capital Flows | 11000 EUR Thousand | 0.013 USD Billion | 1Q/21 |
| Current Account | -55 EUR Million | -0.065 USD Billion | May/21 |
| Exports | 1249 EUR Million | 1.476 USD Billion | May/21 |
| External Debt | 36190 EUR Million | 42.776 USD Billion | 1Q/21 |
| Foreign Exchange Reserves | 4441 USD Million | 4.441 USD Billion | Jun/21 |
| Imports | 1606 EUR Million | 1.898 USD Billion | May/21 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Bank Lending Rate | 3.79 % | Mar/21 |
| Gold Reserves | 6.66 Tonnes | 1Q/21 |
| Interbank Rate | 0.17 % | Jul/21 |
| Interest Rate | 0 % | Jun/21 |
| Loans to Private Sector | 4323 EUR Million | 5.11 USD Billion | May/21 |
| Money Supply M0 | 11458 EUR Million | 13.543 USD Billion | Jun/21 |
| Money Supply M1 | 16488 EUR Million | 19.488 USD Billion | May/21 |
| Money Supply M2 | 18177 EUR Million | 21.485 USD Billion | May/21 |
| Central Bank Balance Sheet | 23868 EUR Million | 28.211 B USD | Apr/21 |
| Foreign Direct Investment | 135 EUR Million | 0.16 B USD | Mar/21 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 500 EUR/Month | 590.989 USD/Month | 1Q/21 |
| Retirement Age Men | 63.75 | 2020 |
| Retirement Age Women | 63.75 | 2020 |
| Unemployment Rate | 8.1 % | 1Q/21 |
| Wages | 932 EUR/Month | 1101.603 USD/Month | Mar/21 |
| Youth Unemployment Rate | 14.1 % | May/21 |
| Employed Persons | 853 Thousand Person | 0.853 Million Person | 1Q/21 |
| Employment Change | -3.9 % | 1Q/21 |
| Employment Rate | 61.6 % | 1Q/21 |
| Full Time Employment | 767 Thousand Person | 4Q/20 |
| Job Vacancies | 21326 | 21.326 K | 1Q/21 |
| Labor Force Participation Rate | 67 % | 1Q/21 |
| Long Term Unemployment Rate | 2.4 % | 1Q/21 |
| Part Time Employment | 77.8 Thousand Persons | 4Q/20 |
| Unemployed Persons | 67307 Persons | 0.067 Million Persons | Jun/21 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 20 % | 2021 |
| Personal Income Tax Rate | 31 % | 2021 |
| Sales Tax Rate | 21 % | 2021 |
| Social Security Rate | 34.09 % | 2021 |
| Social Security Rate For Companies | 23.59 % | 2021 |
| Social Security Rate For Employees | 10.5 % | 2021 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Electricity Production | 531 GWh | May/21 |
| Industrial Production | 10.1 % | May/21 |
| Mining Production | 15 % | Apr/21 |
| Industrial Production (MoM) | -2.3 % | May/21 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Business Confidence | 2.8 index points | Apr/21 |
| Corruption Index | 57 index points | 2020 |
| Corruption Rank | 42 place | 2020 |
| Ease of Doing Business | 19 place | 2019 |
| Manufacturing Production | 20.3 % | Apr/21 |
| Competitiveness Index | 66.98 Index Points | 2019 |
| Competitiveness Rank | 41 | 2019 |
| Economic Optimism Index | 90.7 Index Points | Mar/21 |
Consumer Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Confidence | -1.8 index points | Apr/21 |
| Retail Sales MoM | -3.9 % | May/21 |
| Retail Sales YoY | 3.2 % | May/21 |
| Consumer Credit | 509 EUR Million | 0.56 USD Billion | Dec/18 |
| Consumer Spending | 3500529 EUR Thousand | 4.138 USD Billion | 1Q/21 |
| Households Debt To Income | 32.19 % | 2019 |
Housing Market
| Indicator | Data | Period |
|---|---|---|
| Construction Output | 4.4 % | 4Q/20 |
Government Debt
15.874
USD Billion
#49 from 65 countries
Balance of Trade
-0.422
USD Billion
#90 from 173 countries
Gold Reserves
6.66
Tonnes
#79 from 114 countries
Foreign Exchange Reserves
4.441
USD Billion
#87 from
114 countries
Government Budget Value
-0.299
USD Billion
#113 from 113 countries
Inflation Rate
2.7
%
#78 from
174 countries
Interest Rate
0
%
#147 from
159 countries
Bank Lending Rate
3.79%
#30 from
55 countries
Unemployment Rate
8.1
%
#79 from
171 countries
Wages
1101.603
USD/Month
#46 from
82 countries
Retirement Age
63.75
63.75
men
women
Taxes
20%
31%
company profits
income of individuals
